Bitcoin Approaches Breakout as Momentum Builds Near $120K Resistance

• Bitcoin forms a bull flag near $120K, signaling potential breakout toward $130K.
• Breakout from falling wedge projects BTC price toward $126K–$128K targets.
• Open interest exceeds $40B, indicating rising momentum and upcoming volatility.

Bitcoin is tightening its grip on the $120,000 resistance level, signaling that a major price breakout could be imminent. Recent price action has shaped bullish patterns on multiple charts, with analysts pointing to growing momentum across the board. 

A classic “bull flag” pattern points to a breakout

Well-followed market analyst Crypto Rover notes that Bitcoin has been forming a classic “bull flag” pattern after its recent surge. This structure often reflects a temporary pause before a strong trend continuation. 

The flag’s support zone holds steady around $115,000, while resistance near $120,000 has seen multiple tests. These repeated touches, paired with higher lows, signal growing buyer interest.

Consequently, the current consolidation phase may indicate a healthy accumulation zone. A breakout above $120,000 would likely activate a new leg up, targeting $130,000 or even higher levels. Such a move would require …

The post Bitcoin Approaches Breakout as Momentum Builds Near $120K Resistance appeared first on Coin Edition.